Peer-to-Peer real estate lender Relendex has confirmed full authorisation from the Financial Conduct Authority (FCA). Law firm Howard Kennedy has advised Relendex on the process. The Howard Kennedy team was led by Daniel Tunkel, Partner and Head of Regulation, supported by Financial Regulation Associate David Gilinsky. Daniel Galinksy said: “Peer-to-peer lenders have generally struggled to secure full…
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Bibby Financial Services (BFS), has appointed Edward Winterton as UK Chief Executive Officer. Commenting on Winterton’s appointment, David Postings Global CEO at BFS, said: “I have worked with Edward for five years. His knowledge, experience and tenacity are a huge benefit to BFS and I am confident that under his leadership, our UK business will…
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John Charcol has announced the appointment of its new director of partnerships. Alan Young brings with him a track record of growth through the development of strategic partnerships and increased cross-sale revenue. Young joins John Charcol from GoTo Mortgages, where he worked as Managing Director. Speaking about Alan’s appointment, Simon Knight, CEO of John Charcol,…
Read moreThe Bank of England’s latest money and credit statistics show consumer borrowing increasing by 10.5% in the year to February to £196 billion. As the Bank and the Financial Conduct Authority launch reviews into lending practices, Citizens Advice says more must be done to make sure lenders across all consumer credit markets behave responsibly towards…
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Small businesses chasing payment for overdue invoices achieve significantly better results by sending solicitor’s letters, known as a letter before action (LBA), according to new research from fintech firm Ormsby Street. Two-thirds of LBAs sent will result in a small business being paid within seven days, while two-thirds of overdue invoices will remain unpaid after one…
Read moreThe UK government is to make households that are made homeless exempt from Universal Credit following reports that the new benefits system has led to an increase in rent arrears. According to The Guardian, local authorities in London have said that rent collection levels for homeless tenants placed in emergency accommodation have collapsed following the introduction…
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LendInvest and Pepper UK, have agreed to form what is believed to be the industry’s first partnership between a UK online property finance marketplace and an outsourced loan servicing business. Under the terms of the partnership, Pepper UK will take responsibility for servicing all new loans originated by the LendInvest team. The LendInvest team will…
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One in every five business energy bills contains errors according to a research report by Inenco. The report also believes that businesses could be sitting on half a billion pounds in inaccurate charges and miscalculated utility bills. Energy bills mistakes include incorrect rates, human error, complex data flows and meter reading errors. Collectively, these inaccuracies…
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Nucleus Commercial Finance has reached £500million of lending and plans to double this to £1bn in the next 12 months. Lending is up by 100% since April 2016 as more SMEs look for flexible finance solutions to fund their future growth. Since launch in 2011 Nucleus has lent to UK businesses ranging from start-ups to…
Read moreAsset based finance is increasingly taking market share from bank overdrafts as a key source of funding for SMEs, says the Asset Based Finance Association, the body representing the invoice finance and asset based lending industry in the UK and the Republic of Ireland. The ABFA explains that at any one time an average £9.5…
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Aldermore, the specialist bank, has made two senior appointments to its Business Finance risk team. Jon Flagg has joined as Risk Director for Asset Finance and Clive Gould has been appointed Risk Director for Invoice Finance. Having started his financial services career in corporate lending at NatWest, Flagg has over two decades of asset finance risk…
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A Select Committee on Financial Exclusion has called on the Financial Conduct Authority (FCA) and Banks to give greater priority to tackling financial exclusion in the UK. With more than 1.7 million people in the UK without a bank account and 40% of the working age population with less than £100 in savings, the Committee asks them to end…
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Almost half of SMEs (49%) across the manufacturing sector have aspirations for growth over the next three months, compared with only 31% six months ago immediately after the EU referendum, according to the new quarterly research from Hitachi Capital’s British Business Barometer. The percentage of SMEs anticipating decline is also down from 12% to 9%,…
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